LOT 8 – INVESTMENT PROPERTY
COVENANT
FOR SALE
FBD Holdings Limited
Building 2 UTC,
Curraheen Rd, Cork
Current Income
Potential Income
FBD are quoted on the Irish and London stock exchange.
Company headquarters are in Dublin and there are a large
€115,000 p.a.
€239,740 p.a.
(Tenants Unaffected)
insurance companies in the United States. DSI was originally
created to support the information technology needs of
Anthem and its companies.
DATA ROOM INFORMATION
Please contact Mr. Barry Noonan, William Fry Solicitors
DESCRIPTION
barry.noonan@williamfry.com for a NDA.
Modern, 3rd generation, 2 storey building. The building
was designed with great flexibility to allow for single
or multiple occupation. Extensive car parking in the
immediate vicinity (83 spaces with the building, 20
dedicated).
sq ft
(approx)
sq m
(approx)
(Areas as per IPMS)
Ground Floor Unit A
4,866 452.1
Ground Floor Unit B
4,867
452.2 (vacant)
First Floor Unit A
5,528
513.6 (vacant)
First Floor Unit B
4,304 399.9
TOTAL
19,565 1,817.8
TENANCIES
Ground Floor Unit A
FBD Insurance
25 Year Lease from
October 2003
€60,000
30/10/2028
31/10/2019
First Floor Unit B
Tenant
DeCare Systems Ireland
Limited
Term
6 Year Lease from
October 2011
Rent
€55,000
Next Rent Review
01/10/2016
Lease Expiry
30/09/2017
The company services both private and public sector
subsidiary of Anthem, one of the largest healthcare
Conveniently situated just off the South Ring Road at the
Curraheen Interchange with immediate direct access to east
and west routes. Close proximity to CIT, CUH, UCC, Cork
Airport, City Centre together with Wilton Shopping Centre.
Adjoining occupiers include Red FM, Netgear and Abtran.
Tenant
Term
Rent
Lease Expiry
Break Clause
De Care Systems Ireland
organisations. DSI was established in 1998 and is a
LOCATION
ACCOMMODATION
number of branch offices throughout the Republic.
GUIDE PRICE
Guide price of €2,250,000 equates to a net initial yield of
4.88% and the reversionary yield is approx 10% based on
full occupancy at €12 psf.
TENURE
Long leasehold – approx. 985 years remaining.